STIC Investments has exited its stake in Jeil Hydraulics, a Korean manufacturer of hydraulic motors and related components, to Eaton Corporation for KRW30.8 billion ($26.8 million). The investment generated a 3.1x money multiple.
STIC paid KRW10 billion for a 22% stake in the company in late 2009 via STIC Private Equity Fund II. The initial plan was for Jeil to list on the Korean exchange, generating capital for further expansion...
Private equity compensation rose across the board in Asia Pacific last year – a trend that is seen to reflect rising competition for talent as the number of firms and volume of capital in the region continues to grow.
Indian restaurant discovery and food delivery platform Zomato has raised $210 million from existing investor Ant Financial, the financial services affiliate of China’s Alibaba Group.
The Carlyle Group and Chinese healthcare services provider Meinian Onehealth have together invested in Adicon Holding, a local independent clinical laboratory (ICL) provider. Carlyle is now the company's single largest shareholder.
IDG Ventures India has changed its name to Chiratae Ventures to emphasize the firm’s identity as a backer of high-growth Indian start-ups with potential for global expansion.